Question

Find the total amount if you deposit $500 at a rate of 5% for two years using simple interest.

Answer 1

Amount = Deposit *5%*years.

Answer 2

\[SI =\frac{ P*R*T }{ 100 }\] where P--> principle amount =$500
R--> rate of interest =5%
T=2 years
now plug in the values and get your result

Answer 3

551.25

Answer 4

it is 551.25

Answer 5

$

Answer 6

i thought it would be $550 i havent calculated yet but seems like that

Answer 7

thank you

Answer 8

:D YW

Answer 9

Thanks guys.

Answer 10

welcome

Answer 11

NP :)

Answer 12

If it is calculated yearly then the first year gives 500*1.05 = 525$, the second year gives 525*1.05 = 551.25$

Answer 13

cool :)

Answer 14

It might not be "simple interest", depends on what she means there :)

Answer 15

she wrote simple interest so i am not sure :)